E! If you promise not to tell anybody, I'll "'fess up" -- I own a little gold also. Not near as much as I used to, when I had quite a few of the St. Gaudens $20 gold pieces (and a few of the earlier Liberty $20 gold pieces). I still have quite a few of the commemorative $5 gold pieces issued by the mint, starting with the the 1987. I have always liked diversification, and holding a little gold has always appealed me. Three things have discouraged my holding more gold:
1. Much of my coin collection was stolen, including all of the $20 gold pieces. (VERY discouraging)
2. Gold has gone "the wrong direction" for me since the early 1980's...without enough of a decent rally for me to figure out how to play the bounces.
3. I have make a lot more money in stocks -- so that has been (for me) a better use of capital.
We have noted how well you have done with gold, even when it has been "impossible" to do, with foreign governments dumping their holdings, etc. But I have a feeling that I'll always do better in things I know -- My education is in engineering and economics, so I'm condemned to forever chase tech stocks and growth rates, I suspect <GG> ..
As for this market, I hope I'm buying from the short sellers (before)......and selling to those same short sellers at higher levels before we go back down to test lower levels.... This is not a great market to be on the wrong side of the momentum.....defensive is the name of the game, for sure!
tso |
